Research & Development (R&D) Tax Credits/Tax Relief
Amynepharma is able to provide consultancy services and full support for our clients wishing to claim R&D Corporation Tax Relief or Tax Credits.
What Exactly Are R&D Tax Credits?
The R&D Tax Credit Scheme is an incentive operated by HMRC (HM Revenue & Customs), which enables companies that incur costs in developing either new Products or improvements to existing Products, Processes or Services to obtain either a Cash Payment or a Reduction in Corporation tax.
What type of companies can benefit from the scheme?
The scheme is designed for all UK operating companies that carry out qualifying R&D activity in any business sector (Pharmaceuticals, Aeronautics, Engineering, Life Sciences, Manufacturing and so on). The scheme also allows those UK companies to claim if they have incurred qualifying R&D costs from their overseas Subcontractors.
What are the typical benefits?
The average annual claim for a Small and Medium Enterprise (SME) claimant across the UK is over £46,000 per annum. R&D tax credits can therefore be an incredibly valuable source of additional funding for many businesses. Benefits can be claimed even if ‘loss making’.
How often can a company claim?
There is no limit on the number of years for which qualifying claims can be made. In addition, previously unclaimed years may also be backdated up to two years after the end of a company’s financial year.
Is there any doubt or some uncertainty about whether your organisation actually carries out qualifying R&D activity?
Almost 90% of all eligible UK companies are either completely unaware of the R&D scheme or simply did not envisage that they would qualify, so never considered making a claim. What companies may think of as routine daily business work, surprisingly often turns out to be qualifying R&D activity. Generally, accountants do not necessarily have the scientific background necessary to advise how to make a technical R&D claim. Unfortunately, these basic misconceptions and lack of knowledge, results in far too many businesses missing out on this incredibly valuable financial opportunity.
Amynepharma can greatly benefit you in two ways:
- If you have even the slightest uncertainty whether you might qualify for a Tax Credit, we can fully explore and clearly identify for you wherever there is previously unrealised R&D activity within your organisation. Our scientific experts fully understand R&D requirements as legally defined by HMRC.
- Once your qualifying activity is properly identified, we will then prepare a robust R&D technical claim report on your behalf, the presentation of which fully attunes to HMRC expectations.
With our Expert Scientists, Amynepharma is able to maximise the value of R&D tax credit claims to any clients from any industry sectors.
How much will this cost?
- Our initial review and qualifying R&D assessment service is provided to our customers completely free of charge.
- Only once we have clearly identified qualifying R&D activity, will we proceed to enter into an agreement with our client.
- Our final fees for our service are based on the pre-agreed proportion of the client’s claim value, payable on claim approval*.
[*Please note that we do not request our final fee payments in advance. We only invoice after our client receives confirmation from HMRC that their R&D claim has been approved and their financial benefit (R&D Tax Credit/Relief) has been confirmed. That way our clients will not need to acquire any additional funding prior to verification of their tax benefits.]
Clearly Amynepharma is well equipped to help you recover your expenditure by preparing a solid and robust claim for submission to HMRC in a procedure that is QUICK and PAINLESS for you!
Please click here to read and understand exactly how Amynepharma can help obtain these benefits for you.
If you are interested please contact us at RDTaxCredit@amynepharma.com, full confidentiality is guaranteed.